QUESTION 1 Based on the parameter values and forecast shown below, prepare two aggregate plans using Excel. One plan should use a chase strategy, and the other plan should use a level strategy. Assume that the planned production prior to month 1 is the same as the planned production in month 1. (This means that you will not hire or fire any workers or incur hiring or firing costs in the first month.) Include the following in each plan: Planned production for each month Ending inventory for each month Inventory holding cost for each month Workforce level (number of workers) for each month Production cost for each month Hiring cost for each month Firing cost for each month Total holding cost for the plan Total hiring cost for the plan Total firing cost for the plan Total production cost for the plan Total cost for the plan, including holding, hiring, firing, and production costs Labor standard (hours/unit) Number of hours per worker per month Hiring cost per unit Firing cost per unit Inventory holding cost per unit per month Production cost per unit Beginning inventory (ending inventory prior to month 1) Ending inventory in month 12 8 4 160 5 6 2 15 0 0 Month Forecast 1 4000 2 1000 3 2000 4 2000 5 4000 6 5000 7 6000 8 6000 9 5000 10 4000 11 2000 12 7000 QUESTION 21 For the LEVEL STRATEGY, what is the firing cost in month 8? Enter a whole number without a dollar sign. QUESTION 22 For the LEVEL STRATEGY, what is the total holding cost? Enter a whole number without a dollar sign. QUESTION 23 For the LEVEL STRATEGY, what is the total hiring cost? Enter a whole number without a dollar sign. QUESTION 24 For the LEVEL STRATEGY, what is the total firing cost? Enter a whole number without a dollar sign